Digital Currency Exchange Coinbase Buys Earn.com

Highlights

Earn's CEO Balaji Srinivasan would join Coinbase as CTO

Earn allows senders to pay users in cryptocurrency to reply to emails

Transaction was worth slightly more than $100 million: Report

US-based digital currency exchange Coinbase said on Monday it acquired Earn.com, and as part of the agreement, Earn's Chief Executive Balaji Srinivasan would join the company as chief technology officer.

Earn, also headquartered in the United States, allows senders to pay users in cryptocurrency to reply to emails and complete tasks. The financial details of the deal were not disclosed in a blog post by Coinbase, but tech publication Recode reported that the transaction was worth slightly more than $100 million (roughly Rs. 656 crores).

Formerly known as 21, Earn.com started out as a bitcoin mining startup, but eventually became a cryptocurrency-based professional networking platform that allows users to earn bitcoin by answering emails and completing other tasks.

Srinivasan was formerly a general partner at venture capital firm Andreessen Horowitz.